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Study Guides - 2009 Editions
Actuarial Exam Preparation Courses by G.V. Ramanathan

These Study Guides are self-contained and can be used as textbooks by themselves. The exposition is lucid and efficient. There are numerous illustrative examples, and problems of varying difficulty. Besides these, questions from past exams are included in appropriate places. Solutions are provided for all the problems including the questions fom the past exams. These new editions contain revisions and additions to earlier ones.
 
WHERE TO BUY: Hard copies can be purchased from ACTEX (http://actexmadriver.com) and the Actuarial Bookstore (http://actuarialbookstore.com
 
You can purchase electronic copies - only electronic copies (at a discounted price) from http://actuarialexamprep.com. They are not returnable. The prices for the electronic versions are:
 
Study Guide for Exam P / 1:  65 dollars
Study Guide for MLC: 110 dollars
 
To purchase open an account at the site http://actuarialexamprep.com and follow the instructions.
 
At the bottom of this page there are links to sample chapters, updates, errata and replacement pages.
 

Study Guide for Course P/Exam 1

 

All the syllabus topics are covered in a clear, logical and efficient manner and illustrated with examples. The goal is to develop a strong grasp of concepts and techniques together with an ability to apply them, so that the student will be able to set up and solve problems even when they are worded in unfamiliar ways. Numerous exercises of a wide range of difficulty are provided with the intent of honing problem solving skills.

 

Visit this site for corrections.

 

 

Contents:

 

Chapter 0: Review of results from Calculus

Chapter 1: Introductory Ideas

Chapter 2: Conditional Probability

Chapter 3: Random Variables and Distributions

Chapter 4: Moments of a random variable

Chapter 5: Multivaraite Distributions

Chapter 6: Moments of several random variables

Chapter 7: Some Discrete Random Variables

Chapter 8: Some Continuous Random Variables

Chapter 9: Normal Approximation and Applications

 

Practice Exam

Solutions to Practice Exam

 

 

 

 

 
Sample Pages
 
 

Study Guide for Course MLC: 

 

This Study Guide starts with a review of results from Probability that will be needed in this course. Then the basic ideas of contingency payments such as actuarial present value, benefit premium and benefit reserve are all immediately laid out in a simple way in the second chapter, so that the student will find it easy to absorb the details by recognizing unifying themes. (You can download this chapter from the link below.) The second part is devoted to Poisson process and Markov Chains. The Study Guide contains numerous worked examples and problems of varying difficulty. Besides those, almost all the relevant questions from the past SOA exams since 2000 are included in the appropriate chapters. Solutions are provided to all the problems. There are two practice exams with solutions. Visit this site for corrections and announcements.

 

Part 1:
Chapter I-1:    Review of some prerequisites
Chapter I-2:    An overview of Life Contingencies
Chapter I-3:    Survival Distributions
Chapter I-4:    Multiple Lives
Chapter I-5:    Multiple Decrements
Chapter I-6:    Insurance
Chapter I-7:    Annuities
Chapter I-8:    Benefit Premiums
Chapter I-9:    Benefit Reserves
 
Part 2:
Chapter II-1:  Poisson Process
Chapter II-2:  Applications of Markov Chains
 
Solutions to Problems
 
Practice Exams
Solutions to Practice Exams
 
 

Study Guide for Course MFE/3F:

 

This Study Guide covers all the material for SOA/CAS November 2009 Exam MFE/3F. There are numerous worked examples and end-of-the chapter problems.

 

Contents:

 

Chapter 1: Forward Contracts, No-arbitrage Pricing and Risk-neutrality

Chapter 2: Properties of Options

Chapter 3: Binomial Models

Chapter 4: Brownian Motion

Chapter 5: Black-Scholes Model and Options Pricing (including exotic options)

Chapter 6: Options Greeks

Chapter 7: Interest rate Models

Chapter 8: Simulation, Volatility and Jnesen's Inequality

 

For a detailed list of topics click here

 

For sample pages click here

 

Updates and Errata

You  may purchase an electronic version (in PDF format) of the Study Guide for a price lower than that for the hard copy at the Actuarial Examprep web site.
 
Prices of Electronic versions:
  • Study Guide for Exam P/1: 70 dollars
  • Study Guide for Exam MLC: 120 dollars
  • Study Guide for Exam MFE: 50 dollars 

Hard copies can be purchased from ACTEX or the Actuarial Bookstore